Announcing unitQ's $30M series B led by Accel to power the first product quality platform
“Is our product working as it’s supposed to?” It’s a dead simple yet fundamentally important question most technology companies consider daily, but staying on top of product quality has historically been an inexact science. App Store or Google Play reviews are far from comprehensive and represent sentiment over time, rather than a current snapshot. While Net Promoter Scores (NPS) have become a ubiquitous tool for product teams, they rely on surveys proactively sent out by businesses – meaning they’re more likely to capture positive sentiments and represent a tiny fraction of users. As a result, companies rely on manual processes and anecdotal data to make decisions on what should be fixed next, and the product suffers as a result.
unitQ empowers companies to take a data-driven approach to product quality so they can fix the right quality issues faster. unitQ Monitor, our AI-enabled product quality platform, determines what specifically is impacting quality at any given time, so that teams like engineering, support, product ops, and product management can identify, prioritize, and fix quality issues that matter most. Customers have seen significant improvement in growth, user retention, and engagement by leveraging our product, which then impacts bottom-line results.
In fact, on average customers are able to increase their product quality by 20% in 30 days, which correlates to a 20% improvement in their unitQ Score. We help them improve their product quality by identifying actionable insights in their user feedback from public sources like app reviews and social media, private sources like support tickets, support chats, and surveys, as well as the unitQ API, which connects to other external data sources. With these data points, unitQ automatically tags and analyzes quality issues and delivers the most comprehensive and accurate view of product quality yet.
Some of the most well-known consumer technology companies in the world rely on unitQ, including Chime, Pandora, Strava, The RealReal, and AppLovin.
Since we announced our Series A in March of 2020, we’ve more than tripled our revenue. Today, we’re excited to announce that we’ve raised $30M in funding from Accel, with support from Creandum and Gradient Ventures, Google’s AI-focused venture fund. This brings our total amount raised to $41M since launching in 2018. This Series B will allow us to expand hiring across engineering and go-to-market so that we can expand our reach and serve more businesses.
“One of the best ways consumer technologies can differentiate is by building a product that is reliable and consistently works as intended for its users, and yet up to this point this has been largely an inexact and manual undertaking,” said Andrew Braccia, Partner, Accel. “We invested in unitQ because it has the potential to transform how businesses think about product quality and its impact on usage, retention, and bottom-line results. At Accel, I’ve invested in dozens of consumer tech companies spanning industries – from Hotel Tonight to Etsy to MyFitnessPal – and know that a product like unitQ would be a game-changer for almost all of them.”
The Journey Ahead at unitQ
My co-founder, Niklas Lindstrom, and I started unitQ because we have firsthand experience with the challenges involved in measuring product quality. Before unitQ we founded Skout, a social app that had over 50 million app installations before being acquired by The Meet Group in 2016. During the decade we worked on Skout, we never lost sight of the user experience and our top priority was ensuring people were happy with our product. We would have loved to have access to a product like unitQ, which is why we decided to undergo the ambitious task of building a solution for ourselves.
This is just the beginning for us as the first company to take a data-driven approach to product quality. We aim to not only be a tool that every consumer business relies on for maintaining world-class products that people love to use, but also to be a resource for consumers that want trusted, reliable information on the products available to them so that they can make better decisions. We couldn’t have done it without the support of our amazing customers, employees, partners, investors, and advisors that have helped us get to this point.
We’re just at the beginning of this exciting journey. If you’re interested in seeing how unitQ can work for your organization, sign up for a demo today. If you’re interested in joining us, be sure to check out our open roles and get in touch.
